Antitrust agency probing abuse of monopoly by Akhmetov's energy holding

Antitrust agency probing abuse of monopoly by Akhmetov's energy holdingThe Antimonopoly Committee of Ukraine has initiated an inspection of DTEK group of companies owned by Ukrainian businessman Rinat Akhmetov over abuse of monopoly position in the energy market, according to Chairman of the Antimonopoly Committee Yuriy Terentiev at a briefing in Kyiv.

"Today [September 18] an investigation has begun to examine abuse of monopoly [by the DTEK Group]," he said.

According to Terentiev, the investigation was launched after receiving complaints from the National Commission for state regulation of energy and public utilities.

"We have considered a complaint of the commission. The information provided was enough for a state authorized person to open a case," Terentiev said.

The first results of the investigation will be published in two months, according to Terentiev.

Having considered complaints of DTEK group of companies, the Antimonopoly Committee of Ukraine sent recommendations to the National Commission for state regulation of energy and public utilities on improving transparency of tariffs formation.

In early August, Ukrainian Minister of Energy and Coal Industry Volodymyr Demchyshyn accused Ukraine's largest private energy holding DTEK owned by businessman Rinat Akhmetov of unwillingness to supply coal, which was stockpiled at DTEK Pavlogradugol in the amount of 600,000 tonnes, to warehouses of the holding's power plants.

DTEK is the largest privately owned vertically integrated energy company in Ukraine, with efficient enterprises that mine and prepare coal as well as operate on electrical power generation and supply markets. The company is the energy division of System Capital Management (SCM), one of Ukraine's leading financial and industrial groups.

The coal business includes DTEK Pavlogradugol, (consisting of 10 coal mines), DTEK Dobropolyeugol (5 mines), DTEK Mine Komsomolets Donbassa, DTEK Rovenkianthracite (6 mines and 3 coal preparation plants), DTEK Sverdlovanthracite (5 mines and 3 coal preparation plants), ALC Mine Bilozerska and five enrichment plants.

The power generation business is represented by DTEK Skhidenergo, DTEK Zahidenergo, and DTEK Dniproenergo.

Power transmission and trade is carried out by Service-Invest, DTEK Energougol ENE, DTEK Donetskoblenergo, and DTEK Dniprooblenergo.

The company also owns Kyivenergo that generates and distributes power and heat in Kyiv.

Source: UNIAN
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